Asset Report

Ashburton Hub iron ore mine

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26 July 2022

Ashburton Hub iron ore mine

Report summary

The Mineral Resources Ashburton Hub project has been redesigned to reflect the acquisition of Red Hill Iron’s 40% stake in the RHIOJV in July 2021. The Ashburton Hub Stage 1 now includes RHIOJV tenements, with Bungaroo South and Kumina removed from the development. A 25-30 million tonne iron ore hub is planned, located in the West Pilbara. Development is pending finalisation of both JV Partner and government approvals, but MRL have indicated they expect to commence the two-year construction in late 2022. Ashburton is expected to be a low cost hub in the MRL portfolio, benefiting from a larger capacity road haul solution and a transhipping model at Port Onslow. Key risk to progressing this project is the finalisation of JV Partner approvals for FID.

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